India has mobilised itself to become one of the fastest-developing economies in the world. The electronic manufacturing narrative, in this context, is of particular significance. Companies over the world are beginning to look at the Indian market as their next electronics manufacturing destination to cater to the burgeoning domestic demand for electronic goods.
Realising the sector’s potential for growth and its capability, the Indian government has introduced Modified Electronics Manufacturing Clusters Scheme (EMC 2.0) as a core policy initiative to support and speed up the country’s electronics manufacturing sector.
EMC 2.0, therefore, provides financial incentives for creating quality infrastructure as well as common facilities and amenities for electronics manufacturers. Financial Incentives of up to INR 3,762 Crore will be disbursed under the scheme.
These electronics manufacturing clusters are poised to attract an investment of about INR 209.10 billion and have the potential to generate 51,520 jobs after becoming operational.
Tenure: The scheme is open for receipt of application upto March 2023 with disbursement of funds upto March 2028 to the approved projects.